Pension scheme deficits fall for private sector schemes

Pension scheme deficits for private sector schemes in the UK have fallen from £166 billion to £73 billion, according to JLT Pension Capital Strategies.

The consultancy’s monthly index showed, as of 30 April 2011, assets for all schemes stood at £1,010 billion, compared to £925 billion for the same period in 2010.

Meanwhile, the liabilities for FTSE 100 schemes reduced from £455 billion to £453 billion, while the liabilities for FTSE 350 schemes fell from £527 billion to £519 billion.

Charles Cowling, managing director of JLT Pension Capital Strategies, said: “Despite the recent turmoil in markets, the last 12 months have been quite good for organisations weighed down by pension liabilities and deficits.”

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